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8 November, 01:51

The principal p is borrowed and the loan's future value a at time t is given. determine the loan's simple interest rate r to the nearest tenth of a percent. p = $3900.00 , a = $4148.63 , t = 9 months

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  1. 8 November, 01:56
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    150=2000r

    :

    r=.075

    :

    .075 (100) = 7.5%
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